In 2016, Deutsche Bank was on the brink, but the institute has caught on in recent years. Can the now teetering Credit Suisse learn something from the turnaround of the Germans and the numerous banking crises since the year 2000?
Bankers on an escalator in New York: Many investment banks have had problems with risk management and corporate culture.
Bank crises often last for many years and it is difficult to predict when they will end. This is shown by an episode from the summer of 2011. At that time, a UBS manager said in a background discussion that after the disaster during the financial crisis and the state support from Bern, all the bad news was really in the market. But a few weeks later, trader Kweku Adoboli sunk an incredible $2.3 billion, in 2012/13 UBS was involved in the Libor scandal and the manipulation of other interest rates, and there were proceedings in Germany and France for aiding and abetting tax evasion . The situation only calmed down in the years that followed – and the crisis gradually spread to Deutsche Bank and Credit Suisse.